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U.S. and Iran Digitally Sign Peace Deal to Reopen Strait of Hormuz

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The framework agreement calls for the reopening of the Strait of Hormuz and a 60-day negotiating period focused on nuclear issues, sanctions, and regional security. U.S. officials say sanctions relief will be phased and tied to verifiable Iranian commitments, while Tehran maintains it may charge fees for maritime services in coordination with Oman.

The United States and Iran have electronically signed a framework deal to end the three-month-long war and reopen the Strait of Hormuz, senior US administration officials said on June 15. Speaking on background to reporters, the officials said US President Donald Trump and Vice President JD Vance signed the agreement virtually, while Iran's parliament speaker and chief negotiator, Mohammad Baqer Qalibaf, signed on behalf of Tehran.

The deal is expected to be formally signed during a ceremony in Geneva, Switzerland, on June 19. The full text of the memorandum is set to be released publicly within 24 to 48 hours, the officials said, insisting there would be "full transparency" and "no side deals." The framework deal gives Washington and Tehran 60 days to negotiate a permanent settlement, including disputes over Iran's enriched uranium stockpile.

Earlier on June 15, Washington and Tehran both confirmed a deal had been reached. Iran's state-run Mehr news agency issued what it said were the details of the 14-point memorandum of understanding, saying it envisions 60 days of talks concerning nuclear issues and the full lifting of sanctions against Tehran.

The administration said around 25 ships are currently transiting daily, with expectations that there could be between 40 and 50 by the end of the week. Officials said the strait will be fully open by June 19. Washington insisted that passage through the strait would remain toll-free for 60 days under the memorandum, with regional talks to determine long-term arrangements.

The Fars news agency, which is close to the hard-line Islamic Revolutionary Guards Corps (IRGC), said that "it has been decided that marine traffic through the Gulf will be regulated by Iran in coordination with Oman" -- remarks that run counter to Washington's claims. Esmail Baqaei, spokesman for Iran's Foreign Ministry, said that "we are not looking to collect tolls, but we will design and collect the necessary fees for the services we will provide, navigation services, environmental protection, possibly ship insurance, and other services that will be provided by Iran and Oman."

Reuters quoted a senior Iranian official as saying that, under the terms of the deal, the United States will release $25 billion of frozen Iranian assets while Tehran agrees not to produce or acquire nuclear weapons. US officials flatly denied any money had changed hands, despite speculation that billions of dollars in Iranian assets had already been unfrozen. "The answer to that is zero," one official said when asked whether any frozen Iranian assets had been released.